Sony Q2 profit rises 8%, beating estimates

Credit: REUTERS/Dado Ruvic

Adds details from earnings

TOKYO, Nov 1 (Reuters) - Sony Group Corp's6758.T operating profit rose 8% in the second quarter, the company said on Tuesday, beating analyst estimates, as higher profit in areas including music offset weakness at the gaming unit.

Sony booked a profit of 344 billion yen ($2.32 billion) in the July-September quarter. That compared with an estimate of 300 billion yen from 10 analysts polled by Refinitiv.

The entertainment conglomerate sold 3.3 million units of its PlayStation 5 (PS5) console in the second quarter, equal to sales in the same period a year earlier.

Sony plans to ramp up production of the PS5, which has been affected by supply chain snarls, and broaden its games portfolio on other platforms.

PlayStation launched a remake of "The Last of Us" in September with "God of War Ragnarok" due for release in November for the year-end shopping season.

($1 = 148.1300 yen)

(Reporting by Sam Nussey; Editing by Christian Schmollinger)

((sam.nussey@tr.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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